Several other brokerages have also issued reports on TCPC. TheStreet lowered BlackRock TCP Capital from a b- rating to a c rating in a report on Friday, August 30th. Zacks Investment Research lowered BlackRock TCP Capital from a hold rating to a sell rating in a report on Tuesday, August 13th. ValuEngine lowered BlackRock TCP Capital from a hold rating to a sell rating in a report on Wednesday, July 24th. Finally, Oppenheimer set a $16.00 target price on BlackRock TCP Capital and gave the company a buy rating in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $16.25.
NASDAQ TCPC opened at $13.68 on Wednesday. The business has a 50 day simple moving average of $13.55 and a 200 day simple moving average of $14.15. BlackRock TCP Capital has a one year low of $12.52 and a one year high of $14.88. The stock has a market capitalization of $796.87 million, a P/E ratio of 8.32, a P/E/G ratio of 2.80 and a beta of 0.71. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.87 and a quick ratio of 2.87.
BlackRock TCP Capital (NASDAQ:TCPC) last released its earnings results on Thursday, August 8th. The investment management company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. BlackRock TCP Capital had a return on equity of 11.45% and a net margin of 14.19%. The business had revenue of $48.18 million during the quarter, compared to analysts’ expectations of $47.17 million. Equities analysts expect that BlackRock TCP Capital will post 1.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.36 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 10.53%. BlackRock TCP Capital’s dividend payout ratio is presently 90.57%.
In other BlackRock TCP Capital news, CEO Howard Levkowitz purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were acquired at an average cost of $13.29 per share, for a total transaction of $132,900.00. Following the completion of the acquisition, the chief executive officer now owns 135,905 shares of the company’s stock, valued at approximately $1,806,177.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael E. Leitner purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were acquired at an average price of $13.31 per share, for a total transaction of $199,650.00. Following the completion of the acquisition, the insider now directly owns 15,065 shares of the company’s stock, valued at approximately $200,515.15. The disclosure for this purchase can be found here. 0.63% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC grew its position in shares of BlackRock TCP Capital by 82.7% in the first quarter. Acadian Asset Management LLC now owns 1,412,570 shares of the investment management company’s stock valued at $20,030,000 after purchasing an additional 639,240 shares in the last quarter. LSV Asset Management purchased a new position in shares of BlackRock TCP Capital in the first quarter valued at $8,053,000. Advisors Capital Management LLC purchased a new position in shares of BlackRock TCP Capital in the second quarter valued at $5,481,000. Virtus ETF Advisers LLC purchased a new position in shares of BlackRock TCP Capital in the second quarter valued at $3,527,000. Finally, Invesco Ltd. grew its position in shares of BlackRock TCP Capital by 66.0% in the second quarter. Invesco Ltd. now owns 217,895 shares of the investment management company’s stock valued at $3,105,000 after purchasing an additional 86,616 shares in the last quarter. 38.90% of the stock is owned by institutional investors and hedge funds.
BlackRock TCP Capital Company Profile
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.
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